Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-2

If you dont mind ill give myself a kudos point as my modelling forecasted closing cash dropping from $6.6M to $3.8M and we landed at $3.6M.

This gives poor LVT a scary1.3 Quarters (4 months) of available cash. Note this is before headcount cuts, but also as of 30 September.

My rough excel is attached and I'll update it with a new forecast this week.

The cuts annouced are very large, about 25-35% of cost base. The implied cut from their announcement is about $1M/Month or $3M/Quarter (calcs below).

Given they are currently doing c. $7M of rev/Q and cost-base was $10M, in theory they should be about break even on the CF operations line (before debt servicing of c. $0.5M).

However, even this large measure probably isnt enough. You'd have to think there would be an additional c.$500k-$1M in redundancy payments for 40 people. Leaving them with maybe just $2M in cash next Q.

Surely OneVentures is going to call in the administrator now?




Extra note: Unusual to see them just completely ignore the explanation of why they don't have 2Qs of cash and how they will get there. But for this company why should I be surprised at anything.